Silver to go under $30 US?

It's easy to predict these drops, you just need to know when I buy.

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kitco
 
It's interesting to see USD gold and silver both under both the 50 day and 200 day moving averages.

Now you just need to figure out if your sentiment is "buying opportunity" or "holy crap it's going down!".

Don't seem to recall the world's economic woes going away... use the tactical dips for your strategic plan.
 
MetalMajix said:
http://www.silverdoctors.com/silver-smashed-through-30/

Our friend Turd from TFMetals is looking for a massive short covering rally in gold and silver to kick off with tomorrow's April BLS report, after the cartel has openly and blatantly capped and suppressed both metals all week. TF has a history for making great calls regarding bottoms in gold and silver.

http://www.silverdoctors.com/
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Sorry, I buy this line less and less the more I'm taught trading from some great guys. I've had the last 3 drops called one of them to the day. Manipulation is just about part of any market and whilst I think it plays a part in silver I don't think it's anywhere near as a daily or even weekly basis. Remember also that the Comex which cops much of the guru slack has dropped margin a number of times recently but conveniently forgotten now.

We have a pivot low of around $29.50 on spot first support and a second around a dollar lower. Both should get taken out over the next weeks and months. We may see a wimper rally in-between that, but I'm pretty sure this is going sub $26 and even for me (who has been expecting all this downside) don't even think a crazy $18 is off the table now.

Put up a monthly gold chart for the last 10 years and tell me that it's not fair or reasonable to have one pull back year?
 
upandaway said:
Put up a monthly gold chart for the last 10 years and tell me that it's not fair or reasonable to have one pull back year?
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Markets don't move on what is fair, but on EVENTS, OPPORTUNITY and SENTIMENT.

[That said, I hope you are wrong.]
 
Well sub 30 again, all this volatility is giving me sea sickness


Actually it probably just the hangover from last night..
 
Its just been incremental small drops over the last few weeks, Silver isnt doing the typical mega moves..

Something has to give.. i think well see lower lows before jumping on the escalator up..

Still thinking about putting in an order this evening though as it could bounce up from here.. i wont try to keep the powder dry waiting for $25 as this level is reasonable enough for me to pull the trigger on a dollar cost average purchase..

Y'all waiting or? I could be persuaded to wait but dont want to miss this price level opportunity.

PS: Perth mint just did a batch mail-out with this

COMMENTATORS SAY SILVER PRICE SET TO "BREAK-OUT" IN 2012

Silver has been in the spotlight recently with more commentators expressing optimism
for prices in 2012/13. As we reported on our blog, Philip Klapwijk, global head of metals
analytics for Thomson Reuters GFMS, said the group's short-term forecast is that silver
will trade between $28.70 to $32.90 per ounce in the second quarter.

But quoted in this article on Mineweb, he said: "Before the end of 2012 a more decisive
break-out to the upside is probable, although a repeat of 2011's high is less likely, as
investors will be more cautious following last year's extreme volatility."

Klapwijk said GFMS sees a range for silver north of $40 in the second half of 2012 and
maybe getting to a low of $28 per troy ounce this year.

Sounds good anyway.. similar gut to my gut.. maybe my gut is more fatterer-idid

1for1
 
1for1 said:
Y'all waiting or? I could be persuaded to wait but dont want to miss this price level opportunity.
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Personally, I've been buying on the way down this dip (from about $32aud) as cash permits.

Not had too much money to move around although might do this weekend after close and see what I can lock in.
 
Hoth25 said:
upandaway said:
Put up a monthly gold chart for the last 10 years and tell me that it's not fair or reasonable to have one pull back year?
Click to expand...

Markets don't move on what is fair, but on EVENTS, OPPORTUNITY and SENTIMENT.

[That said, I hope you are wrong.]
Click to expand...


Excellent point Hoth.

Mine was, it is reasonable to expect this prolonged correction at some point in a bull market. We are getting it now. I could definitely be wrong and that is why I am still nibbling all the way. Bought a little at $31, $30 and will continue to do so if we keep going down. The volitility in both directions has probably taught most of us that it far better to try and catch a falling knife in silver than the dead bottom with the turn around that usually comes in a nano second.

1for1, going on gut :) the pivot there and it's a 786 Fib R... around the $28.50 feels big to me. Going to buy a bit more if it reaches this.
 
Im looking at the high aussie dollar and look at it losing up to 45% againest the US dollar so silver may go up in AU$ even if silver is slowly dropping per ouce...

Something to consider, think ill buy in the next online bullion dealer price drop..

Or should i wait for US open?

1for1
 
1for1 said:
Im looking at the high aussie dollar and look at it losing up to 45% againest the US dollar so silver may go up in AU$ even if silver is slowly dropping per ouce...

Something to consider, think ill buy in the next online bullion dealer price drop..

Or should i wait for US open?

1for1
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Buy some now and buy some later.
 
1for1 said:
Or should i wait for US open?
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I am waiting for US market close tomorrow morning aest.

If it jumps higher, I might grab a bit more, but I'd rather take the risk that it'll go lower with US markets
 
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